Robert Rivani Of Black Lion Investment Group Acquires Retail Property In Miami Beach For $62.5M

The retail property located at 1691 Michigan Avenue in Miami Beach was recently sold for $62,500,000. The property spans over 18,658 square feet of interior office space, 43,166 square feet of retail space, and includes a parking area of 318,000 square feet. The transaction took place on April 12, 2024.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $62,500,000
• Buyer: Robert Rivani - Black Lion Investment Group
• Seller: Clarion
• Broker: Jeremy Hakala, Brandon Shores & Clay Sidner - Newmark

The deal involved Robert Rivani from Black Lion Investment Group as the buyer, while Clarion acted as the seller. The transaction was facilitated by brokers Jeremy Hakala, Brandon Shores, and Clay Sidner from Newmark. This sale marks a significant investment in the Miami Beach retail market, indicating confidence in the area's commercial real estate opportunities.